TAT Technologies (NASDAQ:TATT) Sees Strong Trading Volume – Should You Buy?

TAT Technologies Ltd. (NASDAQ:TATT) shares saw an uptick in trading volume on Thursday . 205,082 shares changed hands during trading, an increase of 11% from the previous session’s volume of 184,400 shares.The stock last traded at $45.0920 and had previously closed at $42.82.

Analysts Set New Price Targets

A number of research firms have weighed in on TATT. Weiss Ratings downgraded shares of TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of TAT Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Truist Financial upgraded shares of TAT Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Benchmark boosted their target price on shares of TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $57.29.

TAT Technologies Trading Up 6.6%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.46 and a current ratio of 4.69. The company has a market capitalization of $592.21 million, a price-to-earnings ratio of 35.36 and a beta of 1.00. The business’s 50-day simple moving average is $39.02 and its 200-day simple moving average is $44.85.

TAT Technologies (NASDAQ:TATT) last issued its earnings results on Thursday, May 21st. The aerospace company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.19 by $0.07. The company had revenue of $41.15 million during the quarter, compared to analysts’ expectations of $40.25 million. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. On average, research analysts expect that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.

Insider Activity at TAT Technologies

In other news, COO Jason Lewandowski sold 3,125 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $39.22, for a total value of $122,562.50. Following the completion of the sale, the chief operating officer directly owned 3,125 shares of the company’s stock, valued at $122,562.50. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.75% of the company’s stock.

Institutional Trading of TAT Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TATT. Wasatch Advisors LP increased its stake in shares of TAT Technologies by 143.0% in the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock valued at $23,858,000 after acquiring an additional 459,693 shares during the last quarter. Penn Capital Management Company LLC increased its stake in shares of TAT Technologies by 1,063.4% in the 3rd quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company’s stock valued at $15,768,000 after acquiring an additional 327,015 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of TAT Technologies in the 3rd quarter valued at about $10,150,000. Stephens Investment Management Group LLC bought a new stake in shares of TAT Technologies in the 1st quarter valued at about $7,733,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of TAT Technologies by 92.1% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock valued at $17,283,000 after acquiring an additional 185,574 shares during the last quarter. 15.13% of the stock is owned by institutional investors.

About TAT Technologies

TAT Technologies Ltd. is a global provider of environmental control and thermal management solutions for the aerospace industry. The company specializes in the design, manufacturing and support of aircraft environmental control systems (ECS), heat exchangers and related components. Its product portfolio serves commercial and military airframers, engine manufacturers and airlines, offering critical systems that regulate cabin pressure, temperature and ventilation on fixed-wing and rotary aircraft.

Key offerings include air cycle machines, preconditioned air units, steam/water separators and specialty heat exchangers engineered to meet stringent aerospace standards.